Ratios & Harmonics: a Different Way to Trade | Page 334 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #6,661
  • Dec 26, 2013 9:12pm Dec 26, 2013 9:12pm
Mr. Pip,
Here is where they seem to get me every time. Confluence, 61.8 retracement, momentum comes to a halt........... looks like good opportunity for aggressive C for a few pips but then bang. Sometimes i can project price action and points of confluence for pullbacks to the .000 of a pip and the next day they run over me like a bull. Perhaps I am not ready to trade the lower times. Any input would be greatly appreciated.






Paul
Attached File(s)
File Type: csv USDJPY5.csv   869 KB | 215 downloads
  • #6,662
  • Dec 26, 2013 9:33pm Dec 26, 2013 9:33pm
Quoting dpaulinla
Mr. Pip, Here is where they seem to get me every time. Confluence, 61.8 retracement, momentum comes to a halt........... looks like good opportunity for aggressive C for a few pips but then bang. Sometimes i can project price action and points of confluence for pullbacks to the .000 of a pip and the next day they run over me like a bull. Perhaps I am not ready to trade the lower times. Any input would be greatly appreciated. Paul {file}
Hello Paul, I guess you are still having some trouble in uploading your charts. In a try to help out, if you are using metatrader, follow these steps:

Click on File then Save as Picture:

Attached Image


Choose the second option "Active Chart (as is)" and then save it in some folder.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_05 Dec. 26 21.25.jpg Size: 119 KB


While writing your post click on "upload from computer" and browse that folder until you find the image.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_06 Dec. 26 21.26.jpg Size: 115 KB


Once you have uploaded click on "insert" to place it in a specif part of your post.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_07 Dec. 26 21.29.jpg Size: 104 KB
Best time to plant a tree was 20 years ago, second best is now
  • #6,663
  • Dec 26, 2013 9:41pm Dec 26, 2013 9:41pm
Quoting horuxito
{quote} Hello Paul, I guess you are still having some trouble in uploading your charts. In one try to help out, if you are using metatrader, follow these steps: Click on File then Save as Picture: {image} Choose the second option "Active Chart (as is)" and then save it in some folder. {image} While writing your post click on "upload from computer" and brose that folder until you find the image. {image} Once you have uploaded click on "insert" to place it in a specif part of your post. {image}

Thank you Horuxito, can my file at the bottom of my post not be opened? I would much more prefer to send charts such as what are normally posted on the tread. Thank you again for your help and any feedback that you may have for me is very much welcome. I am here to learn and grow.
  • #6,664
  • Dec 26, 2013 9:44pm Dec 26, 2013 9:44pm
Quoting dpaulinla
{quote} Thank you Horuxito, can my file at the bottom of my post not be opened? I would much more prefer to send charts such as what are normally posted on the tread. Thank you again for your help and any feedback that you may have for me is very much welcome. I am here to learn and grow.
People won't download that file since it's an excel sheet. If we all needed that sheet then of course we would grab it, but you want to show an image and you have to upload the screenshot of your charts. Please follow the steps in my previous post and give it a try. Any questions please ask. We're here to help and it's nice seeing you around.

The difference is that instead of "save as" you need to click on "save as picture"
Best time to plant a tree was 20 years ago, second best is now
  • #6,665
  • Dec 26, 2013 10:02pm Dec 26, 2013 10:02pm
Quoting kumaramy
EU aggressive C buy 1HR. Entry : 1.3686 TP : 1.3734 SL : 1.3652 Reasons : TP & SL key S/R levels & fib levels Increasing depth to upside. Decreasing momentum to downside.
TP hit
-milkeyway
  • #6,666
  • Dec 26, 2013 10:13pm Dec 26, 2013 10:13pm
Yes Horuxito, I see now that it is an excel download and that is no good. However, after following your steps precisely as which I had already done it sends my screen shot to a "site" MQL5 MetaTraders Platform Charts.... From this venue I see no way to share it other than facebook or some other social medias. Any help from you are other members of our family is much appreciated. I am not ignorant, I have just never done such a thing..........
  • #6,667
  • Dec 26, 2013 10:16pm Dec 26, 2013 10:16pm
Quoting kumaramy
{quote} TP hit
Hey Amit, that's great! Your hard work is paying off.

Since we are in slow days and due to the fact we are celebrating the 1st anniversary of this thread I've taken the time to re-read all Mr. Pip's posts, they are priceless.
Best time to plant a tree was 20 years ago, second best is now
  • #6,668
  • Dec 26, 2013 10:17pm Dec 26, 2013 10:17pm
Quoting dpaulinla
Yes Horuxito, I see now that it is an excel download and that is no good. However, after following your steps precisely as which I had already done it sends my screen shot to a "site" MQL5 MetaTraders Platform Charts.... From this venue I see no way to share it other than facebook or some other social medias. Any help from you are other members of our family is much appreciated. I am not ignorant, I have just never done such a thing..........
It's very easy to overcome that problem. Just uncheck where it says "post image online in mq5 site". See the 2nd image of my previous post for reference.
Best time to plant a tree was 20 years ago, second best is now
  • #6,669
  • Dec 26, 2013 10:19pm Dec 26, 2013 10:19pm
Quoting kumaramy
{quote} TP hit
Very good Kumaramy.... Hard work will always pay off. Congradulations
  • #6,670
  • Dec 26, 2013 10:31pm Dec 26, 2013 10:31pm
here is the chart I intended to send............Any input is greatly appreciated. Tell me your thoughts as to the box that is drawn or any other feedback is appreciated. [attach]1336081[/attachInsert (http://www.forexfactory.com/#)]
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym5.png Size: 47 KB
  • #6,671
  • Dec 26, 2013 10:37pm Dec 26, 2013 10:37pm
Thanks Horuxito & Dipaulinla
-milkeyway
  • #6,672
  • Edited 11:11pm Dec 26, 2013 10:47pm | Edited 11:11pm
Quoting dpaulinla
here is the chart I intended to send............Any input is greatly appreciated. Tell me your thoughts as to the box that is drawn or any other feedback is appreciated.
It's great you could upload your chart

I would expect the input of a more experienced trader but all I see is a consolidation at the top of a very bullish market.

You were right about wanting to go long but doing it in such a thin area was not something we could name aggressive or anything. Notice the porcupine you had 2 hours before your trade... that lighted some alerts.

On the other hand the A to B move was only 11 pips. That confirms that you were inside a very small consolidation which was not tradable.

If you would had taken an extension from that consoliation area you would had anticipated a possible level to short at the 161.8% fibonacci exhaustion that also had confluence with the 138.2% extension of the main move. Don't take this too serious for now since exhaustions are something more advanced that require a more aggressive approach and a strong commitment before pulling the trigger. Stick to the harmonic moves and PRZ by the rules for now.

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-a.png Size: 43 KB


I just wanted to add since you mention small timeframes. They are not tradable at slow session times. You need price to be moving and forming swings. After London close price gets contained in a very thin area. For people like Mr. Pip who uses tick charts or the ones like me using range bars charts that won't be a problem but anyway you need price moving if you want some action fast.
Best time to plant a tree was 20 years ago, second best is now
  • #6,673
  • Dec 26, 2013 11:26pm Dec 26, 2013 11:26pm
EU 1HR
We have nice completion of AB=CD.
D is 61.8% of XA.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 22 KB
-milkeyway
  • #6,674
  • Dec 26, 2013 11:30pm Dec 26, 2013 11:30pm
Hey Amit. I was just about to post the same thing! It's good to have an extra pair of eyes!

I thought I was not going to trade until next week but EU is just evident right now.

- 61.8% retracement of a previous big bearish move
- 138.2% extension of the upwards move
- completion of an ABCD pattern
- price very close to daily second resistance

Stoploss 10 pips above the 131.8% extension which is also the 78.6% retracement of the bearish move.

I want to see price acting around 1.3750. I added a first little soldier to the party hehe.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-a.png Size: 56 KB
Best time to plant a tree was 20 years ago, second best is now
  • #6,675
  • Dec 26, 2013 11:33pm Dec 26, 2013 11:33pm
Quoting horuxito
{quote} It's great you could upload your chart I would expect the input of a more experienced trader but all I see is a consolidation at the top of a very bullish market. You were right about wanting to go long but doing it in such a thin area was not something we could name aggressive or anything. Notice the porcupine you had 2 hours before your trade... that lighted some alerts. On the other hand the A to B move was only 11 pips. That confirms that you were inside a very small consolidation which was not tradable. If you would had taken...
Thank you Horuxito for your valuable input. Of course hindsight is always easier and charts can be looked back on in time and we can say........" I shall use this swing." Of course your explanation is purely logical I was simply looking for a short trade after the New York open. The swing you were referring to started at London open such as 8 hrs prior. I chose a swing within an hr of New York open. I have the luxury or the bad luck of being able to trade the London, New York, and Asian sessions and I can confirm that they all have different personalities. That said there is not a chart or time frame you can not go over in hindsight and see a harmonic movement. They are as multiple as the stars in the sky. I do have a provider of 100 tic chart which is very close to the 5 min. chart on meta 4 but their platform does not allow to share charts. It showed the movement I anticipated much better than the chart provided. I understand the swing I had chosen was not of much depth and probably not tradable. In hindsight I forced the trade looking for a couple pips and it went against me. Your input is much valued and very much appreciated. Thank you for everything Horuxito
  • #6,676
  • Dec 26, 2013 11:35pm Dec 26, 2013 11:35pm
Quoting horuxito
Hey Amit. I was just about to post the same thing! It's good to have an extra pair of eyes! I thought I was not going to trade until next week but EU is just evident right now. - 61.8% retracement of a previous big bearish move - 138.2% extension of the upwards move - completion of an ABCD pattern - price very close to daily second resistance Stoploss 10 pips above the 131.8% extension which is also the 78.6% retracement of the bearish move. I want to see price acting around 1.3750. I added a first little soldier to the party hehe. {image}
What do you think about EURGBP 4Hr ? do you see 8420 as target ? Is it looks like aggressive C buy ?
-milkeyway
  • #6,677
  • Dec 26, 2013 11:40pm Dec 26, 2013 11:40pm
Quoting dpaulinla
{quote} Thank you Horuxito for your valuable input. Of course hindsight is always easier and charts can be looked back on in time and we can say........" I shall use this swing." Of course your explanation is purely logical I was simply looking for a short trade after the New York open. The swing you were referring to started at London open such as 8 hrs prior. I chose a swing within an hr of New York open. I have the luxury or the bad luck of being able to trade the London, New York, and Asian sessions and I can confirm that they all have different...
Thank you Paul for your kind words. I must recognize I am still learning here and surely I have a great deal to learn yet. I went through the whole thread this month and it was nice to catch up a little. I decided to trade withouth indicators even when I have coded some myself . But harmonics are just fantastic. You are right, they are everywhere. My intention was to say that the purpose of trading 5m chart is because you want price moving fast but the harmonics are always there regardless of the calmed sessions.

I talk about range bars charts and tick charts in my journal and the way to configure them in metatrader if you want to have a look at it.
Best time to plant a tree was 20 years ago, second best is now
  • #6,678
  • Dec 26, 2013 11:41pm Dec 26, 2013 11:41pm
Quoting horuxito
Hey Amit. I was just about to post the same thing! It's good to have an extra pair of eyes! I thought I was not going to trade until next week but EU is just evident right now. - 61.8% retracement of a previous big bearish move - 138.2% extension of the upwards move - completion of an ABCD pattern - price very close to daily second resistance Stoploss 10 pips above the 131.8% extension which is also the 78.6% retracement of the bearish move. I want to see price acting around 1.3750. I added a first little soldier to the party hehe. {image}
Do you look 8994 as target of aggressive C buy of AU ?

http://www.forexfactory.com/showthread.php?p=7172456#post7172456
-milkeyway
  • #6,679
  • Dec 26, 2013 11:47pm Dec 26, 2013 11:47pm
Quoting kumaramy
{quote} What do you think about EURGBP 4Hr ? do you see 8420 as target ? Is it looks like aggressive C buy ?
I see a lot of support for price going there but it already departured without you. You are 20 pips late to that party. In such scenario I would short this one after an ABCD completion if and when price gets to the level you mentioned.

I personally don't trade TFs higher than H1 since they take forever for my taste Additionally my focus is on the euro dollar and cable.
Best time to plant a tree was 20 years ago, second best is now
  • #6,680
  • Dec 27, 2013 2:04am Dec 27, 2013 2:04am
Quoting horuxito
{quote} Hello Paul, I guess you are still having some trouble in uploading your charts. In a try to help out, if you are using metatrader, follow these steps: Click on File then Save as Picture: {image} Choose the second option "Active Chart (as is)" and then save it in some folder. {image} While writing your post click on "upload from computer" and browse that folder until you find the image. {image} Once you have uploaded click on "insert" to place it in a specif part of your post. {image}
Horuxito, Pic speaks a thousand word. i learn from this Thanks.


Hi guys I just stumble on this thread few days ago I appreciate Mr Pip for it and it is very close to a system have traded before i called it earth&sky someone send to my mail i read and apply the rules the following month i turn a $5000 account to $34000, then know i don't any money managment was trading 1.5 lot on the account only to loss it the following month so i have been looking for a Mentor the person that send the system to can not mentor me cause his site don't take payment for my country, so have been looking for mentor i pay to be member to a site only to be more confused so started looking and find Mr Pip thread i love listen & reading, while reading this thread it became my Haa! moment, lots questions i had then became clear to me. so let me go back to my reading again have a lovely holiday everyone.
4 traders viewing now